Conversion of Sole Proprietorship into One Person Company (OPC)
One Person Company (OPC):
One Person Company (OPC) is a new concept in India introduced through the Companies Act, 2013 to support entrepreneurs who on their own are capable of starting a venture by allowing them to create a single person economic entity.
Why to choose One Person Company (OPC) ?
Certificate of Incorporation, bank account opening and GST registration
Importance of OPC
Separate legal entity
Procedure for Conversion of Proprietorship into One Person Company (OPC)
There is no formal way of converting a sole proprietorship firm into an OPC. We have to apply for a fresh registration for OPC with Ministry of Corporate Affairs. Therefore, the steps would be same as starting a fresh One Person Company.
To start an OPC, there has to be two people, one is the director/owner and other is the nominee. The steps are as mentioned below:
Step 1 : Obtain Dsc, Apply Dsc For Directors And Apply Name Approval
Step 2. Incorporation of Documents MOA, AOA, Director Concern Letter (Draft Sent To You For Confirmation) Also, he has to submit an address proof for the office.
Step 3. File Spice e-form with MCA
Step 4. Get Incorporation Certificate, Pan, TAN & Bank Accounts
CS.A.Maniraj.,B.Com.,ACS.,CA(Fin), Independent Director
Certified CSR Professional., Certified GST Professional.